Retirement and Pension at Carleton University

This section contains information on your retirement plan, planning for your retirement, and the various forms associated with your retirement.  Below are links to popular content.  If you have any questions about your retirement and pension, please don’t hesitate to contact Pension Services.

Travel

Out of County Travel Coverage
If you are planning to travel after you retire, remember that the Carleton Health plan offers out-of-country emergency coverage.

Sitting on the Beach

Post-Retirement Benefits
View the summary of benefit coverage you have as a retiree.

Checklist

Retirement Checklist
If you are planning on retiring in the next 12 months, contact Pension Services for a detailed quote.

If you are planning on retiring in the next 2 to 5 years, use the Carleton Retirement Planner.

Piggy Bank

Retirement Plan Contributions
Information for if you are disabled and are receiving benefits from the Long Term Disability Plan.

Biking in sunset

Receiving your Pension
What to do if you terminate your employment with the university before your retirement date.

Pension Funds

Forms of Pension
The normal form of pension is payable for your lifetime and guaranteed for a minimum of five years.

Carleton Retirement Plan Eligibility

Full and part-time continuing employees and full and part-time term employees with appointments of 12 months or more are eligible to join the plan.  You may be enrolled in the plan on the first day of any month coincident with or following your date of employment. Membership is compulsory by the first day of July after you reach age 30.

If you are appointed to less than a one-year term, you are not eligible to join the plan.  If your term is extended beyond a one-year period, you may join the plan retroactive to the date of your appointment.

Staff with full-time term appointments of at least six months but less than 12 months, who have been appointed to a second term, will be eligible to join the plan from the date of appointment to the second term if the break between the first and second term is less than 12 months.

Part-time employees who earn at least 35% of the Year’s Maximum Pensionable Earnings (YMPE) under the Canada Pension Plan (CPP) or have worked 700 hours, in each of the preceding two consecutive calendar years are eligible.  Once a part-time employee becomes a member of the Plan, membership will continue if employment continues, regardless of earnings level or hours worked.

Once you join the plan, you must remain a member while employed by the University.

Contact Elena or Brenlee in Pension Services if you have any questions regarding the information on these pages.

Contact the Office of Pension Fund Management if you have questions regarding the the plan governance or investments.

Disclaimer

These webpages have been prepared to give you a quick and easy reference to the Carleton University Retirement Plan.  The information is general in nature.  It does not constitute legal or actuarial advice about your rights and obligations and is not binding on Carleton University.  Should there be any conflict or omission between the information here and that contained in the Pension Benefits Act of Ontario (PBA), other applicable laws or the Plan documents, the PBA, other laws and plan documents apply.  The information provided here may include interpretations and administrative procedures as understood at the time of issuance.  Carleton University reserves the right to change or amend these interpretations and administrative procedures, whether or not the information in this document is updated.

Pension issues and options are extremely complex. It is important that you seek professional advice about your financial situation and estate planning. The Pension Services team is available to provide pre-retirement information and calculations regarding the pension and benefit options.

Retirement and Pension News